QatarEnergy Increases Shares in Two Offshore Blocks in Namibia
QatarEnergy has reached agreement with TotalEnergies on strengthening its interests in two exploration blocks in the frontier Orange basin offshore Namibia.
Subject to approvals, QatarEnergies would acquire an additional 5.25% from TotalEnergies in block 2913B (PEL 56) and a further 4.695% in block 2912 (PEL 91).
| Read More: QatarEnergy Acquires 23% Stake in North El-Dabaa Block from Chevron |
The arrangement would increase its stakes to 35.25% in block 2913B and 33.025% in block 2912, with TotalEnergies remaining operator with respective 45.25% and 42.475% shares.
Both the blocks are around 300 km offshore Namibia, in water depths ranging from 2,600-3,800 m.
Source: offshore-mag
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